How Incubators Gain from Seamless Incubation Management

  • 3 mins read
  • 22nd Jun,2021
  • 2.8K views

You know how start-ups power the shift to a global knowledge economy apart from creating new markets and shoring up employment. The start-ups generate three million jobs each year. Worldwide, the start-up economy is valued at a staggering $3 trillion, rivalling the GDP size of a G7 nation. But before start-ups grow into successful businesses and make that dent in the economy, they need handholding during the incipient stages. And, when it comes to early stage support, incubators offer the optimal solution as they anchor and mentor the fledgling units. Sample this- before turning into billionaire entities, Uber and Airbnb had their early stage nurturing at a start-up incubator. So, what is an incubator? The Cambridge dictionary defines it as ‘a container that has controlled air and temperature conditions in which a weak or premature baby can be kept alive’. We can find analogy in the start-up ecosystem as an incubator helps a business in its ‘baby stages’ and acts as a dedicated babysitter. Born in the 1950s, the incubators have evolved considerably to offer a complete assisted journey to start-ups.

The Need for Automated Incubation Management

Incubators provide start-ups with the opportunity to gain traction in the market and grow. The program includes physical and technical support, as well as mentoring for acquiring real customers. However, this isn’t as easily achieved as avowed. The initial challenge for an incubator is onboarding of a start-up with serious intent. In the absence of a digitalized ecosystem, it gets tough to screen out a frivolous, fly-by-night ideator from a genuine entrepreneur. Mostly, the incubation management systems are either standalone or have restricted access to all stakeholders associated with a start-up.

As a result, compliances and information dissemination between investors and entrepreneurs are delayed. Showing achievements and progress is another challenge in assessing a venture's status in real time. Hence, it is critical to integrate every step of a start-up's lifecycle - from being selected to being mentored to managing - into a system that could communicate seamlessly with each other. Moreover, incubators and accelerators are witnessing a spike in investment, which has caused governments and corporations to seek a digital solution that would help with conceptualizing, designing, developing and managing an incubator.

CSM’s Incubation Management System- Letting Start-up Aspiration Soar High

Our Incubation Management System tracks and manages programs to support entrepreneurs. The robust system effectively implements, monitors, and reports on business incubation and enterprise development programs. The platform manages workflows between stakeholders, connects startups to funding and services, tracks project progress, monitors and evaluates performance, and manages the overall life cycle of the incubation support.

What are the system’s USPs?

  • Project creation for Incubators/Accelerators
  • Milestone creation  and monitoring
  • Creation of partners & members and Mentorship Management
  • Funds and Investment tracking’
  • Infrastructure and Resource Management
  • Plug and play workspace with bandwidth and labs
  • Asset and Programme Management
  • Equity Slab and Management
  • Asset Requisition and Return
  • Knowledge Management
  • Marketing & Analytics

And, the Benefits…

Through our Incubation Management System, we allow all stakeholders - business incubators, accelerators, startups, mentors, and investors - to connect and exchange ideas. The system, thus, assures a seamless end-to-end incubation lifecycle management experience from onboarding, funding, mentorship, knowledge sharing, and milestone tracking to exit. The system offers tangible benefits:-

  • Management of the incubation process from start to finish
  • For greater impact, it helps create collaborative innovation ecosystems
  • Improves process efficiency and reduces redundancy
  • Accelerates the onboarding, mentorship assignment, and campaign management processes
  • Using collaborative tools on the cloud for collaboration & communication allows an easy way to access and share business applications & files
  • Providing a comprehensive mentorship program
  • Tracking the progress of startup teams and their mentors, and observing their results as they mature

What’s Next on Incubation Innovation?

Emerging Technologies like Internet of Things (IoT), Artificial Intelligence (AI), Augmented Reality (AR) & Virtual Reality (VR) are spurring incubators to get more creative in anchoring start-ups. The future of incubation innovation rests on moving beyond the PoC (Proof of Concept) stage and tapping the downstream end of the innovation cycle. This way, incubators can unlock every lock of a truly digital transformation.

Image
AUTHOR:
Jayajit Dash

Manager- Corporate Communications (Marketing)

More Blog Posts from Jayajit Dash

Emerging Technologies - 2 MINS READ

Commercial Quantum Computing- Are We On The Next Frontier?

GovTech Solution - 4 MINS READ

How Tracking SDGs With Technology Creates An Equal World

Emerging Technologies - 3 MINS READ

How The Incredible Gets Possible With Computer Vision

GovTech Solution - 2 MINS READ

How Omnichannel Grievance Management Delights In Citizen Experience

GovTech Solution - 3 MINS READ

Omnichannel Feedback Platform Can Elevate Citizen Experience

Emerging Technologies - 3 MINS READ

How Data Lakes Can Empower Enterprises

Emerging Technologies - 2 MINS READ

How Data Warehouses Can be Awesome for Business Insights

Data Analytics - 2 MINS READ

Why Data Warehouse is Still the Lynchpin to Manage Data

Emerging Technologies - 3 MINS READ

How Data Fabric Creates Delight in Data Management

Emerging Technologies - 2 MINS READ

Homomorphic Encryption- A Game-Changer for Data Privacy

Most Viewed Blog Posts

Mines & Minerals - 3 MINS READ

Digital Logistics for Pivoting To Mining 4.0

Mines & Minerals - 3 MINS READ

Big Data & Analytics For Mining Sector Transformation

Emerging Technologies - 3 MINS READ

Artificial Intelligence: The Future Is Here

Mines & Minerals - 3 MINS READ

Automated Industrial Inspections to Leapfrog Business Reforms

Emerging Technologies - 2 MINS READ

e-Governance: Adopting Agile Methodology

Digital Transformation - 3 MINS READ

How Digitization Reformed the Food Supply Chain in Odisha

Healthcare - 3 MINS READ

CoVaTrack: Tracking The Enigmatic Vaccine

Digital Transformation - 2 MINS READ

How This Budget with a Digital Pulse can Turnaround India

Block Chain - 1 MIN READ

Blockchain : The Trust Protocol for Data Integrity through Distributed Power

Emerging Technologies - 3 MINS READ

How Emerging Tech Can Empower Social Commerce


CSM Technologies

Subscribe to our newsletter


If you choose to provide us with your e-mail address and/or other (indirect) personally identifiable information, we will only use such information to send you our newsletter